Latest news with #SaumilGandhi
Time of India
2 hours ago
- Business
- Time of India
Bullion breaks records: Silver hits Rs 1.04 lakh/kg in Delhi; gold gains Rs 430 as global momentum builds
Gold and silver rate today: Silver surged to a record high of Rs 1,04,100 per kg in Delhi markets on Thursday, while gold prices also firmed up sharply, driven by strong global cues and a weaker dollar. Tired of too many ads? go ad free now According to the All India Sarafa Association, silver prices continued their rally for the fourth straight session, jumping Rs 2,000 to scale a lifetime peak. The quoted price is inclusive of all taxes, PTI reported. 'The price of silver reached a new all-time high in the domestic market. The rally is supported by strong fundamentals, higher industrial demand, inflation hedging, and tight global supply,' said Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities. The previous all-time high for silver was Rs 1,03,500 per kg, recorded on March 19. Gold also saw firm upward movement. The price of gold of 99.9% purity rose Rs 430 to Rs 99,690 per 10 grams, while gold of 99.5% purity gained Rs 400 to Rs 99,100 per 10 grams, both inclusive of all taxes. Silver futures for July delivery rallied by Rs 3,833, or 3.78%, to touch a lifetime high of Rs 1,05,213 per kg on the Multi Commodity Exchange (MCX). Looking ahead, Rahul Kalantri, Vice President (Commodities) at Mehta Equities, said the metal could climb further. 'The metal might reach around Rs 1,14,000 to Rs 1,20,000 per kg by this Diwali, but investors should brace for a bumpy ride ahead as market volatility remains high amid global uncertainties,' he said. Gold futures for the August contract also gained Rs 635 to reach Rs 99,214 per 10 grams. 'Gold prices traded higher, supported by a weaker dollar and renewed safe-haven demand amid lingering tariff uncertainty and US debt concerns,' said Jateen Trivedi, VP Research Analyst, Commodity and Currency at LKP Securities. Tired of too many ads? go ad free now He noted that global gold prices had scaled above $3,395 per ounce, while MCX gold traded above Rs 98,450. Spot gold in international markets rose by $21.58, or 0.64%, to $3,393.93 per ounce. Spot silver jumped nearly 4% to $35.80 per ounce. 'Spot silver has surpassed the previous resistance level of $35 per ounce and is trading above that mark, reaching a 12-year high,' added Gandhi. Chintan Mehta, CEO of Abans Financial Services, said investor focus is now on the upcoming US non-farm payroll report, which may offer cues on the Federal Reserve's next move. 'Any new geopolitical developments could add another layer of uncertainty, once again driving investors toward the safe haven of gold,' he added.
Economic Times
6 hours ago
- Business
- Economic Times
Silver price hits record of Rs 1.04 lakh/kg; gold climbs Rs 430/10 gm
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Silver prices hit a lifetime high of Rs 1,04,100 per kilogram in the national capital on Thursday, and gold prices jumped Rs 430 in line with strong global cues, according to the All India Sarafa the winning run for the fourth straight session, the white metal bounced Rs 2,000 to hit a fresh peak of Rs 1,04,100 per kilogram (inclusive of all taxes) in the local markets HDFC Securities' Senior Analyst of Commodities Saumil Gandhi said the "price of silver reached a new all-time high in the domestic market. The rally is supported by strong fundamentals, higher industrial demand inflation hedging, and tight global supply".On March 19, silver hit its previous all-time high of Rs 1,03,500 per of 99.9 per cent purity appreciated Rs 430 to Rs 99,690 per 10 grams (inclusive of all taxes). The precious metal of 99.5 per cent purity increased Rs 400 to Rs 99,100 per 10 grams (inclusive of all taxes) on most traded July contract for silver futures rallied by Rs 3,833, or 3.78 per cent, to hit an all-time high of Rs 1,05,213 per kg on the Multi Commodity gold futures for August contracts climbed Rs 635 to Rs 99,214 per 10 grams."Gold prices traded higher, supported by a weaker dollar and renewed safe-haven demand amid lingering tariff uncertainty and US debt concerns. Globally, gold scaled above USD 3,395 per ounce, while MCX gold gained to trade above Rs 98,450," Jateen Trivedi, VP Research Analyst, Commodity and Currency at LKP Securities, broader sentiment in the bullion space remains positive, driven by geopolitical tensions and ongoing imbalance in global trade and financial dynamics, Trivedi spot gold in the international markets rose USD 21.58 per ounce, or 0.64 per cent, to USD 3,393.93 per spot silver went up nearly 4 per cent to trade at USD 35.80 per ounce in the overseas markets."Spot silver has surpassed the previous resistance level of USD 35 per ounce and is trading above that mark, reaching a 12-year high," Gandhi to Abans Financial Services ' Chief Executive Officer Chintan Mehta, investors are focused on Friday's US non-farm payroll report for further clues on the Federal Reserve's monetary policy addition, any new geopolitical developments could add another layer of uncertainty, once again driving investors toward the safe haven of gold, Mehta said.
Time of India
7 hours ago
- Business
- Time of India
Silver price hits record of Rs 1.04 lakh/kg; gold climbs Rs 430/10 gm
Silver prices hit a lifetime high of Rs 1,04,100 per kilogram in the national capital on Thursday, and gold prices jumped Rs 430 in line with strong global cues, according to the All India Sarafa Association. Continuing the winning run for the fourth straight session, the white metal bounced Rs 2,000 to hit a fresh peak of Rs 1,04,100 per kilogram (inclusive of all taxes) in the local markets . HDFC Securities' Senior Analyst of Commodities Saumil Gandhi said the "price of silver reached a new all-time high in the domestic market. The rally is supported by strong fundamentals, higher industrial demand , inflation hedging, and tight global supply". On March 19, silver hit its previous all-time high of Rs 1,03,500 per kg. Gold of 99.9 per cent purity appreciated Rs 430 to Rs 99,690 per 10 grams (inclusive of all taxes). The precious metal of 99.5 per cent purity increased Rs 400 to Rs 99,100 per 10 grams (inclusive of all taxes) on Thursday. Live Events The most traded July contract for silver futures rallied by Rs 3,833, or 3.78 per cent, to hit an all-time high of Rs 1,05,213 per kg on the Multi Commodity Exchange. Additionally, gold futures for August contracts climbed Rs 635 to Rs 99,214 per 10 grams. "Gold prices traded higher, supported by a weaker dollar and renewed safe-haven demand amid lingering tariff uncertainty and US debt concerns. Globally, gold scaled above USD 3,395 per ounce, while MCX gold gained to trade above Rs 98,450," Jateen Trivedi, VP Research Analyst, Commodity and Currency at LKP Securities, said. The broader sentiment in the bullion space remains positive, driven by geopolitical tensions and ongoing imbalance in global trade and financial dynamics, Trivedi added. Meanwhile, spot gold in the international markets rose USD 21.58 per ounce, or 0.64 per cent, to USD 3,393.93 per ounce. Also, spot silver went up nearly 4 per cent to trade at USD 35.80 per ounce in the overseas markets. "Spot silver has surpassed the previous resistance level of USD 35 per ounce and is trading above that mark, reaching a 12-year high," Gandhi said. According to Abans Financial Services ' Chief Executive Officer Chintan Mehta, investors are focused on Friday's US non-farm payroll report for further clues on the Federal Reserve's monetary policy direction. In addition, any new geopolitical developments could add another layer of uncertainty, once again driving investors toward the safe haven of gold, Mehta said.
The Print
a day ago
- Business
- The Print
Gold climbs Rs 260 to Rs 99,260/10 g; silver rallies Rs 1,900
'Gold showed a slight positive trend on Wednesday due to persistent uncertainties related to trade, along with economic concerns and geopolitical risks, continue to support the safe-haven appeal of the precious metal,' Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said. The yellow metal of 99.5 per cent purity rose Rs 100 to Rs 98,700 per 10 grams (inclusive of all taxes). New Delhi, Jun 4 (PTI) Gold prices climbed Rs 260 to Rs 99,260 per 10 grams in the national capital on Wednesday amid strong cues in the global markets, according to the All India Sarafa Association. Also, silver rallied by Rs 1,900 to Rs 1,02,100 per kg (inclusive of all taxes) on Wednesday. The metal had closed at Rs 1,00,200 per kg in the previous market session. On the global front, spot gold went up by USD 9.43 per ounce or 0.28 per cent to USD 3,362.6 per ounce. In April, central banks added a net total of 12 tonnes of gold to global reserves. However, the purchasing pace has slowed, 12 per cent lower than the previous month. Even with the decline in purchases, Gandhi said, central banks are likely to continue adding gold to their reserves. PTI HG HG SHW This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
a day ago
- Business
- Time of India
Gold climbs Rs 260 to Rs 99,260/10 g; silver rallies Rs 1,900
Gold prices climbed Rs 260 to Rs 99,260 per 10 grams in the national capital on Wednesday amid strong cues in the global markets, according to the All India Sarafa Association. The yellow metal of 99.5 per cent purity rose Rs 100 to Rs 98,700 per 10 grams (inclusive of all taxes). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy One, Get One Free, Up To 50% Discount, Expiring Soon Original Adidas Shop Now Undo "Gold showed a slight positive trend on Wednesday due to persistent uncertainties related to trade, along with economic concerns and geopolitical risks, continue to support the safe-haven appeal of the precious metal," Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities , said. Also, silver rallied by Rs 1,900 to Rs 1,02,100 per kg (inclusive of all taxes) on Wednesday. The metal had closed at Rs 1,00,200 per kg in the previous market session. On the global front, spot gold went up by USD 9.43 per ounce or 0.28 per cent to USD 3,362.6 per ounce. Live Events In April, central banks added a net total of 12 tonnes of gold to global reserves. However, the purchasing pace has slowed, 12 per cent lower than the previous month. Even with the decline in purchases, Gandhi said, central banks are likely to continue adding gold to their reserves.
